6 Year Default But Making Payments - Does This Stay on my record

[treatmefairly]

Hi,

 

I have some debts that were defaulted coming up to six years ago - I am making reduced payments on them at present.

 

I understand that defaults come off your credit record after six year but I can't find reference via the forum search facility on what happens if I'm making reduced payments/ there is still an outstanding balance.

 

Can anyone advice what my credit record will show once it is 6 years after the default whilst I'm still making reduced payments on the debt?

 

Thanks

[silverfox1961]

Hi

After 6 years the default will fall off with or without any further payments. They cannot add a second default either. There should be nothing to see after the default is gone.

 

If you can give us some idea what the debts were, there may be a chance to get some charges( if any) refunded

[treatmefairly]

Hi,

 

Thanks for your response

 

so what will show on my record - presumably the account itself will still be on there?

 

I've managed to avoid charges, the only one where I feel hard done by is an AA loan which was HBOS and who have charged the full interest that would have been payable on the loan - so if anything can be done about this then I'm all ears -but having looked into it before I believe not.

[martin2006]

What was looked into?

What are the debts?

When were they taken out/accrued?

If there was any ppi?

 

Obviously dont post anything personal or identifying like names, addressess, acc numbers etc but the more info there is, the better the responses and help will be.

[dx100uk]

All references to a defaulted debt must be removed from your credit files after 6 years

has passed from date of default, whether paid off or not.

.

{the WHOLE ACCOUNT WILL VANISH, never to return}.

.

{however, this does not mean the debt itself is not still owed

consider a CCA request.}

.

This is so that someone who continues paying something

- even after 6 years from default

- should not be at a disadvantage to someone who pays nothing after default

and ends up with a clean file after 6 years.

.

NOTE: {the bracketed text is not ICO guideline but my advise]

[stu007]

Hi

 

I know you have mentioned in 2 post about your Credit Reference but have you actually checked your Credit Reference as you don't mention this?

 

Noodle and ClearScore are free to check

[treatmefairly]

Hi,

 

The debts were unsecured loans/credit card originally taken out at least 9 years ago. I've done CCA, checked for PPI etc and this is clear. I did all this a while ago - its because the defaults are coming up to six years that I'm looking into the question re defaults.

 

My only issues would be possibilities of getting the interest removed reduced (its what would have been payable on the original loan, nothing extra added).

 

I have checked my credit record and a couple of DCAs have added their own default dates which I need to challenge separately as the default was not with them, this was just when they took on the debt

 

So if they accounts themselves disappear from my credit records (is there a link to and regulation that I can quote them?) does this mean my credit score would improve? What would happen if I attempted to remortgage to a lower rate (which would give me more cash to pay the debts) - would they no longer be able to see these debts?.

 

 

Thanks again

[martin2006]

The dca's cannot simply change the date of default,

the date of default should remain the same as what is on the original default notice.

 

 

A dca can change the ownership of the debt to the dca's name from the OC name.

 

Once the default reaches its 6th anniversary it falls off yr file,

that does not necessarily mean the whole account disappears.

 

 

In the case of a CC account for example, if you are making payment towards a CC debt

and the account defaulted 7 yrs ago but a balance still remains,

then the oayments will continue to update the account status but the default will have been removed.

 

I'll find a link to the ICO guidelines for defaults, pls bear with me

[martin2006]

http://www.experian.co.uk/www/pages/downloads/compliance/guidance_on_defaults.pdf

[dx100uk]

also useful